Why choose medical billing for your new business?
Flexibility. You can work from anywhere and set your own schedule. Build a part-time business to earn extra income, replace your salary, or grow the business as large as you want.
Growth potential. According to the U.S. Bureau of Labor forecast, health services are in the #1 "super sector" for growth. Plus, people continue to visit doctors whether the economy is up or down, and 80 million "baby boomers" will be retiring in the next few years, so timing couldn't be better for this industry.
No special education required. You don't need any special degrees or professional licenses to be a medical biller. Learning complex billing codes is not required.
Why choose American Business Systems?
Three features that no other company offers:
Even more reasons you'll love your new medical billing business:
State-of-the-art, web-based electronic billing. The ABS proprietary online billing system was developed at a cost of over 1 million dollars. All the codes and HIPAA compliance features are built into the system. All the updates are installed automatically, ready for you to use when you log on. There's no extra cost for upgrades, ever. You aren't tied down to the office, because you can do your work online from any computer with an Internet connection. The site is secure and encrypted data is backed up daily.
You solve the doctors' cash-flow problems, not just file their claims. Doctors often don't get paid for 60, 90 or 120 days. And the average rejected claims rate is about 30%. Our system gets payments into the doctors' hands within 7-10 days - with a dramatically reduced rejection rate of just 2%.
Faster, more profitable claims filing. Our electronic filing system is faster than processing with software installed on your computer, or manually completing paper claims. That means you can file claims more efficiently, which boosts your profits.
Multiple streams of income with additional cash-flow services. Doctors need much more help than just claims filing. ABS licensees are able to help in virtually every area of the doctors' revenue cycle. Electronic Medical Records, Patient Payment Plans, Coding Review, and more. Add more value to every customer and get more recurring monthly income.
Turnkey marketing system. Our proven system brings prospects to you. You'll receive a supply of professionally designed brochures, CDs, faxes, letters and postcards. As an ABS licensee, you'll also get our exclusive ABS Practice Analysis Tool that shows doctors how much they can save with your services compared to their current billing system.
A unique window of opportunity. Larger medical practices have already switched to electronic billing by government mandate. All indications are that eventually all doctors will be required to comply. The future is web-based electronic billing. The Center for Medicare and Medicaid Services estimates 70% of the doctors practicing fall into the group that is not under mandate to use electronic claims filing at this time. Many of those are still using paper claims, so the opportunity is wide open.
You can help doctors get more money faster and reduce their rejection rate. That's reason enough for them to switch to the proprietary system you can offer as an ABS certified licensee, even if they're currently using computer-based software, or filing paper claims.
This opportunity is available in the United States only.
When you submit your information:
You'll receive details about our Free One-hour Webinar (online presentation).
Plus you'll get access online to a demo of our system, income calculators, a look at the marketing materials, licensee success stories and more.
American Business Systems, LLC is currently accepting inquiries from the following states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming.
Interested parties should have at least $20,000 in liquid capital to invest.
How was your franchise/opportunity originally conceived and started?
This is a family owned and operated business. My parents started a medical billing company in Dallas TX in 1987, and in 1994 they formed American Business Systems and started teaching others how to market their own billing businesses.
What was your original vision for your company? How has that changed over time?
The original vision was to have saturated the market for outsourced medical billing companies by the year 2000. We discovered that we have yet to scratch the surface of the market due to the fact that doctors are in such dire financial states right now, and our program works for virtually any medical specialty.
What do you believe is the single most important factor when choosing a franchise?
That you will enjoy the work.
Why should someone choose your franchise over other similar franchises?
A lot of people are drawn to a business that allows total freedom on how the business is run, what you charge clients, etc. Also, if you don't like to pay royalties or have territorial restrictions, this opportunity is a good choice.
What makes your industry attractive?
There is growth in healthcare no matter what the rest of the economy is doing. Millions of new medical claims to be filed with Affordable Healthcare Act, Millions of Baby Boomers will need medical care in the coming years.
What types of qualities do you look for in potential franchisees?
Anyone who can follow a process and build relationships can succeed in this business.
What do your franchise fees and royalties cover?
The initial one-time fee covers 9 different products, services and software that can be offered to medical providers as well as some for non medical. Lifetime training and Support at no extra cost.
How do territories work for your franchisees?
There are no restrictions on where you can market and most of the time, licensees get referrals from all over the country.
Why has your franchise model been successful?
Licensees can make $100K + annually with just a handful of doctors. No product to stock, no hardware, no retail space, no staff.
Where do you see your franchise in 5 years and 10 years?
We are already the nation's largest network on independent medical billing companies. Within 5 years we will have over 2000 licensees in all fifty states. Within 10 years, our licensees will own the marketplace in all but the smallest cities.
What is your favorite advice for new franchisees to help them succeed?
Stick with the marketing plan that we teach you. Those that stray usually struggle in getting clients.
What would you tell potential franchisees that may be nervous about the financial burdens of starting a franchise?
Many giant corporations were started with credit cards and a dream. If you have the drive to succeed, you'll find a way to meet your goals, regardless of setbacks or delays.
Can you explain your financial assistance (if applicable)?
We have several options for helping prospective licensees with financing. Contact us for details.
On average, how long does it take to start a new franchise from the franchisees point of view?
With our opportunity, once you graduate our week long class in Dallas, you are able to start marketing as soon as you get home. Average time to get a first client is 60 days out of training.
What was your background and experience before founding this franchise?
My parents, Patrick and Linda Phillips founded this business in 1994 after having started their own successful medical billing business in 1987.
Our Founder, Patrick Phillips, is a best-selling author, nationally-recognized speaker and entrepreneur who "retired" at age 52 after having founded a national financial services company generating over ten million dollars a year.
The principles in his newest book, How To Reprogram Yourself for Success, have been used by thousands of people worldwide to improve their relationships, break bad habits and reach their personal and financial goals.
Because of the popularity of his "Million-Dollar Mindset," he's been interviewed on dozens of national radio and television programs and is the Chief Success Coach for American Business Systems.
Do you have any franchisee testimonials or success stories that you would like to share?
Tons! Check out www.YouTube.com/whyabs
Provide an overview/ description of your industry. Include reasons why it's a great industry to start a business in today.
The Healthcare industry is one of the few growth industries in the United States. Healthcare spending is projected to reach $4.5 TRILLION by 2020. There is a lot of room for individuals to get involved and be successful because this is a recession-proof industry. With 30-40 million Americans that will be covered under the Affordable Care Act (Obamacare), millions of baby boomers retiring and seeking care, doctors will more and more begin seeking out outsourced billing entities so they can focus on core competencies (practicing medicine.)
How has your industry changed in the last 10 years? 20 years?
Healthcare is evolving. Twenty years ago, all doctors were filing paper insurance forms and mailing them to the insurance companies for reimbursement.
What trends do you see in your industry over the next 5 years? Next 10 years?
Doctors will continue to look to companies specializing in outsourced billing and revenue recovery services to help save them time and money.
Why do you think your company stands out in the industry?
We are the only medical billing training and support company that provides a live training that focuses on marketing and showing you a clear path generating revenue, assistance getting clients, lifetime technical and marketing support, a cloud based billing and EHR software package, and a money back guarantee.
Describe the ideal candidate. Do you think your requirements are any different than your competitor's?
Ideal candidate is someone who can follow a process, and build relationships. Someone who wants their own business so much that they will continue to follow our guidance until they reach all their financial goals.
What's the strongest skill you require in a candidate?
Trust and 100% belief in our program.
Describe the working environment of your franchisees (indoors, home office, mobile, etc). Is your environment typical of other companies in your industry?
The typical licensee works from home. Some work alone, some hire others to help with data entry/marketing. Most marketing is very flexible and can be done early mornings, lunch breaks, evenings, weekends, etc.
Why has your company been successful?
Our founder is a marketing genius and has designed a marketing system that if failure-proof if followed precisely.
What advice would you give someone interested in buying a franchise in your industry?
The software is not the biggest concern you should have. There are several different types of software that will get the job done. The biggest question is, is the company I'm partnering with going to give me the support I need, when I need it? Will they help me build my credibility when just starting out, will they do software demos for my clients? Will they help me analyze a doctors practice and then help put together a proposal based on what's discovered?
How much experience in this industry should a franchisee candidate have should they consider buying a franchise in your industry?
None. Most of our successful licensees had no medical or healthcare background. They just had the determination to succeed and followed our plan to the letter.
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